SEC Breach Gives Firepower To Critics Of In-House Courts
By Al Barbarino (April 8, 2022, 5:54 PM EDT) -- The U.S. Securities and Exchange Commission's adjudication system was already under heavy fire when the agency unexpectedly revealed an internal information breach, but it may have given critics more ammunition to challenge the constitutionality of the agency's in-house courts.
According to an SEC announcement Tuesday, the agency has uncovered that, in 2017, members of administrative staff in its enforcement unit accessed adjudicatory materials and memos for cases being litigated in its in-house court system.
The agency called it a "control deficiency related to the separation of its enforcement and adjudicatory functions within its system for administrative adjudications."
An ongoing review has...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!